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Ph.D.

Ph.D. IN Finance

Ph.D. students attend seminar
PH.D. IN BUSINESS WITH A SPECIALIZATION IN FINANCE

Are you thinking of pursuing an academic career in finance? Start your journey in our intensive course of study in both the theory and empirical application of finance. We’ll help you achieve success by providing funding opportunities, mentorship, office support and unique opportunities to develop your research and teaching skills. If accepted, you will receive a competitive stipend, tuition remission and access to basic coverage under the university’s student health insurance plan.

The Department of Finance Ph.D. program application for Fall 2023 will open September 1, 2022.

calendar

August Start
Apply by January 1

Review Admission Requirements
Review Admission Process

Admission Requirements

Deadlines

All application materials must be received by January 1.

We admit only a handful of new students each full academic year, therefore we do not admit students mid-year. Normally, we have about eight Ph.D. students in residence at any one time.

School Admission Requirements

• Academic transcripts that showcase excellent grades. Transcript instructions for both domestic and international students can be found in the “Review Admission Process” tab above.
• Professional resume.
• Three letters of recommendation.
• GMAT or GRE score (equal to the 90th percentile).
• TOEFL score (only for international students; minimum of 550 paper, 80 iBT or 6.5 IELTS).

Additional qualifications may be required, particularly for prospective teaching assistants.

GMAT – Graduate Management Admission Test

• You must register to take the GMAT or GRE and have the results forwarded to Nebraska (use institution code S40-HW-48). You must also submit your scores through the graduate application.
• You must earn a minimum score equal to the 90th percentile on the GMAT or GRE.

TOEFL - Test of Spoken English

• International students must include a TOEFL score (use institution code 6877).
• You will need a minimum score of 550 paper, 80 iBT or 6.5 IELTS.

Note to International Students

If you are accepted into the program, you will be required to attend the Institute for International Teaching Assistants in the summer prior to teaching in the program (generally the summer after the first year in the program). As an international student, we recommend starting your application process at least one year prior to the date you would like to be admitted. You must also be aware of the additional requirements that you need to meet in order to be admitted to the College of Business. The International Student and Scholar Office provides orientation, counseling and advising, and serves as the official liaison between your sponsoring agency and the United States government. Staff members are also available to help you make contacts on campus and in the Lincoln community.

Guidelines for International Students

Admissions Process

Apply

Apply online and submit the $50 application fee.

Apply Online Now

Upload Supporting Documents

All Supporting Documents including unofficial transcripts and test scores are uploaded directly via the graduate application.

You are required to submit an unofficial transcript from each post-secondary institution you have attended during the application review process.

Submit Official Transcripts

If you are admitted, you will be required to submit an official transcript sent directly from each institution you have attended to The Office of Graduate Studies. We recommend that you complete this task before your admitted term begins. A hold will be placed on your account if they do not receive your official transcripts by October 1 for the fall term, February 1 for the spring term and July 1 for the summer term. Students will have until that day to submit official transcripts or your admission will be rescinded.

Transcripts can be sent electronically to graduate@unl.edu or by mail to

University of Nebraska–Lincoln
Graduate Admissions
1100 Seaton Hall
Lincoln, NE 68588-0619

International Student Transcript Submission

If you are an international student, please refer to the Nebraska Office of Graduate Studies for transcript and document information.

International Transcript Information

Additional information on Application Requirements can be found at Graduate Studies website.

Bottom line, a better value.

At Nebraska, you’ll benefit from our small program’s collaborative and caring environment. The lock-step program includes a combination of classroom instruction, seminars and work with different faculty members. You’ll be an active partner in our academic community, which fosters high academic achievement and diverse social organizations and events.

Joint Research Current Students Past Graduates

Program Requirements

A minimum of 90 graduate credit semester hours is required. Before entering the program, you will need at least one year of calculus and one semester of probability and statistics. We strongly recommend three semesters of calculus, one semester of linear algebra and a probability and statistics course.

Program of Study

You’ll file a program of study in your first year, which requires the appointment of a Supervisory Committee. After you’ve completed the comprehensive exam, you may consult with the graduate chair to change your committee.

Annual Review

You’ll undergo an annual review to determine your progress. This individual review is conducted by the department Ph.D. committee.

Qualifying Exam

As a first year student, you’ll take a qualifying exam in financial theory approximately three to four weeks after completion of the first year. Failure results in termination from the program. During second year, you’ll demonstrate mastery of the core areas by passing a comprehensive exam, about three to four weeks after completion of the second year.

Comprehensive Exams

Admittance prior to Fall 2015: you’ll take the comprehensive exam in the spring of your third year. To sit for the exam, you must present your second year paper to the faculty in the fall of your third year and gain committee approval for submission to a journal during the spring of your third year. You’ll receive a failing grade for the comprehensive exam if you do not meet the requirements to sit for the exam.

Admittance in Fall 2015 or later: you’ll take the comprehensive exam approximately three to four weeks after the completion of your second year coursework. You must also complete a second year paper in the summer after your second year and present it to the faculty in the fall semester of your third year.

Doctoral Dissertation

You’ll submit a tentative outline of your dissertation to the Supervisory Committee and defend the proposed topic and methodology. The dissertation involves a substantial research project and/or indicates evidence of your ability to carry out independent, original research.

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Coursework

In our lock-step curriculum, you’ll move through the program alongside other students, giving you the chance to work together and develop close relationships. If you prior graduate coursework, you can transfer in elective hours and probability and statistics coursework.

To begin, you’ll take a SAS and STATA Computer Programming Boot Camp, typically the week before classes start.

If you have prior graduate coursework you’ll take a minimum of 42 credit hours of coursework. The requirements are:

- Finance seminars: 15 credit hours
- Econometrics: 9 credit hours
- Probability and statistics: 9 credit hours
- Economic theory: 6 credit hours
- Research and teaching methods: 3 credit hours

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Benefits

Assistantships
All full-time doctoral students are funded with a departmental teaching or research assistantship, university fellowship or external assistance. The assistantship includes a stipend of $25,000, tuition remission, health benefits and teaching and research opportunities for the expected four years of study. Tuition remission covers up to 12 credit hours per academic semester, plus an additional 12 hours during the entire summer session. However, fees are not waived. We normally assign students as research assistants the first year of the program, with teaching duties starting in the second year. As a full-time student, you will receive office space, computer resources and departmental office support. Part-time students are admitted only under special circumstances.

Health Insurance
All graduate assistants with appointments that qualify for full tuition remission receive an additional benefit of basic coverage under the university’s student health insurance plan. Approximately 21 percent of the annual cost of the individual health insurance premium will be billed directly to your account. Dependent plans are also available on an optional basis.

Tuition and Fees
Tentative Lock-Step Course Sequence
Tentative Course Sequence
Entering Program in the Fall of Odd-numbered Years
Summer prior to Year 1
Summer prior to Year 1:
SAS and STATA Computer Programming Boot Camp
(Typically the week before fall classes begin)
Year 1
Semester 1:
FINA 968 Corporate Finance I
ECON 873 Microeconomic Models
STAT 880 Introduction to Mathematical Statistics
Elective ( such as Acct 916: Contemporary Accounting Theory)
Semester 2:
FINA 969 Corporate Finance II
ECON 957 Econometrics I
Summer:
Take Preliminary Qualifying Exam
Complete Institute for International Teaching Assistants
Year 2
Semester 1:
FINA 961 Asset Pricing I
ECON 958 Econometrics II
ECON 973 Advanced Microeconomic Theory I
Semester 2:
FINA 966 Asset Pricing II
FINA 996 Current Topics in Finance Research
ECON 959 Econometrics III
Summer:
Take Comprehensive Exam
Complete 2nd year paper
Year 3
Semester 1:
Present 2nd year paper to faculty
Begin to work on dissertation
Semester 2:
Continue work on dissertation
Summer:
Dissertation
Year 4
Semester 1:
Dissertation Proposal Defense
Send Out Job Market Packets to Schools
Interview at FMA Conference
Campus Visits
Semester 2:
Interview at AFA Conference
Hopefully More Campus Visits
Finish Dissertation
Final Defense
Tentative Course Sequence
Entering Program in the Fall of Even-numbered Years
Summer prior to Year 1
Summer prior to Year 1:
SAS and STATA Computer Programming Boot Camp
(Typically the week before fall classes begin)
Year 1
Semester 1:
FINA 961 Asset Pricing I
ECON 873 Microeconomic Models
STAT 880 Introduction to Mathematical Statistics
Elective (such as Acct 916 Contemporary Accounting Theory)
Semester 2:
FINA 966 Asset Pricing II
FINA 996 Current Topics in Finance Research
ECON 957 Econometrics I
Summer:
Take Preliminary Qualifying Exam
Complete Institute for International Teaching Assistants
Year 2
Semester 1:
FINA 968 Corporate Finance I
ECON 958 Econometrics II
ECON 973 Advanced Microeconomic Theory I
Semester 2:
FINA 969 Corporate Finance II
ECON 959 Econometrics III
Summer:
Take Comprehensive Exam
Complete 2nd year paper
Year 3
Semester 1:
Present 2nd year paper to faculty
Begin to work on dissertation
Semester 2:
Continue work on dissertation
Summer:
Dissertation
Year 4
Semester 1:
Dissertation Proposal Defense
Send Out Job Market Packets to Schools
Interview at FMA Conference
Campus Visits
Semester 2:
Interview at AFA Conference
Hopefully More Campus Visits
Finish Dissertation
Final Defense

Students with prior graduate study experience may transfer in elective hours andprobability and statistics coursework.

Why Nebraska?

Home to the University of Nebraska–Lincoln, the city of Lincoln consistently ranks among the highest U.S. cities for livability thanks to a low cost of living, great schools and friendly, community-minded residents. Set amidst a big sky and open landscape, the city is simple to navigate with a nationally noted low crime rate, a wide range of housing choices and a reliable public transit system. As one of the fastest growing metro areas in the Midwest, Lincoln boasts a growing technology sector, more parkland per capita than all but a few U.S. cities, an extensive bike trail network and numerous options for recreational and personal interest activities. It’s easy to feel at home here.

Points of Pride About Lincoln Local Events

Cost of Living Comparison (2018)
  Lincoln Ann Arbor Boston Austin College Station Raleigh Seattle United States
Overall 96 127 182 130 99 111 204 100
Grocery 92.9 90.7 105.7 88.7 87.5 93.4 100.4 100
Health 120 90 83 92 91 103 82 100
Housing 94 190 314 185 125 139 407 100
Utilities 92 99 117 99 96 99 69 100
Transportation 87 115 152 131 83 100 157 100
Miscellaneous 98 95 129 100 89 98 120 100

Contact

Friesen, Geoffrey C
Associate Professor of Finance
HLH 201 A
P.O. Box 880490
Lincoln, NE 68588-0490
402-472-2334
gfriesen2@unl.edu